ECONOMY: Construction data offer glimmer of hope

Fresh signs that the economy is stabilizing – though at very low levels – emerged Tuesday in reports that home construction rose more than expected last month and wholesale prices remain in check.

The building of new homes and apartments jumped 17.2 percent to a seasonally adjusted annual rate of 532,000 units from April’s record low of 454,000 units, the Commerce Department said. Building permits, an indicator of future activity, rose 4 percent to an annual rate of 518,000 units, also better than expected.